Wednesday night, sam bankman-fried, the ftx founder, was extradited from the bahamas to the us. two of sbf’s closest allies, gary wang and caroline ellison, have both pleaded guilty to their own charges. the justice department filed charges against sbf on december 12 and the us securities and exchange commission filed charges against him on december 13, which included wire fraud, securities fraud, securities fraud conspiracy, and money laundering.
Extradition of bankman-fried happened on tuesday, when a bahamian judge signed the order to hand him over to us authorities. sbf waived his right to contest extradition and opted to fast-track his removal from the bahamas to avoid an extended stay in the notorious fox hill prison, which has been the subject of human rights investigations due to its history of overcrowding and deplorable conditions. he is now in us custody and his trial can proceed.
Extradition of sbf and his subsequent charges are the result of an investigation by the us government into alleged fraud, money laundering, and conspiracy. if found guilty, sbf could spend the rest of his life in federal prison, as his recommended ‘sentencing range’ under the us sentencing guidelines will be extremely high. hundreds of millions of dollars, if not billions, are involved in this case.